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Recently, some media found on the Taobao judicial auction platform that the Ningbo Intermediate people's Court of Zhejiang Province approved the auction of the 100% stake in Lanzhou Zhidou Electric vehicle Co., Ltd. the starting price is 138 million yuan, and the company's evaluated price is only 197 million yuan. The deposit is 25 million yuan, and the price increase is 100000 yuan. The auction will be held from 10:00 on November 24, 2019 to 10:00 on November 25, 2019.

The auction announcement shows that the 100% stake in Lanzhou Zhidou Electric vehicle Co., Ltd. at auction includes fixed assets such as land, production lines, factories and the production qualification of pure electric passenger vehicles in the hands of Zhidou. This shows that Zhidou will officially enter the judicial auction process.

In addition, in the announcement of the bidding, the Intermediate people's Court of Ningbo City, Zhejiang Province specifically marked "defects in the auction", and such a sign can also be said that so far, the company is still operating assets will change to a certain extent.

In fact, as early as June this year, Zhidou Motor was publicized as an untrustworthy person. The case was filed on January 7, 2019, and the executive court was the Ningbo Intermediate people's Court. The reason why it is listed as an untrustworthy person is that Zhidou Automobile's obligation to pay more than 200 million yuan and related interest has not been fulfilled.

Zhidou brand was founded in 2006, focusing on the mini electric car market, and in 2012, Zhidou's first product has been launched. At that time, Zhidou Automobile also occupied most of the new energy vehicle market by virtue of its low price and high cost performance.

In 2015, Zhidou, Geely holding Group and GSR Ventures Fund jointly established Zhidou Electric vehicle Co., Ltd., in which Geely is the first shareholder with a 45 per cent stake, while Bao Wenguang's Xin Dayang holds about 30 per cent of the second largest shareholder. Since then, Zhidou has indirectly obtained the production qualification through a joint venture with Geely, becoming a small electric car subsidized by the state. After the subsidy, the price range of Zhidou automobile products is only 30-50, 000 yuan, which is called "occupation artifact" by consumers in many areas where car license plates and purchases are restricted.

In the three years from 2015 to 2017, Zhidou's annual sales were 25300, 24000 and 43000, respectively. In the 2017 global sales list of new energy vehicles, Zhidou D2 has achieved the sixth place.

Due to the awkward positioning of mini electric vehicles and the decline of state subsidies for new energy vehicles in 2018, Zhidou car sales fell sharply. In 2018, Zhidou sold only 15300 cars, a year-on-year drop of 63.9%, a far cry from the target of 80, 000 set at the beginning of the year. According to data released by the Federation of passengers, the cumulative sales of Zhidou cars in the first three quarters of 2019 were only 2095, a year-on-year drop of 84.5 per cent.

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Span.s1 {font-kerning: none} dozens of listed companies such as Changhong Huayi, Yonggui Electric Appliances and Tiancheng automatic Control have been implicated by it. So far, Zhidou Motor has been listed as a bad executor more than 30 times, and founder Bao Wenguang has also been restricted from high consumption.

In this regard, some industry insiders said that the current plight of Zhidou Automobile is mainly due to the cancellation of new energy vehicle subsidies for mini electric vehicles, and Zhidou Automobile, which is at the edge of the industry, is the first to be affected. secondly, Zhidou Automobile's work in product development is not in place, and the product matrix is too single.

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